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Pfizer Inc. (PFE) (JOBS) , Bausch & Lomb (BOL) Team Up to Promote Eye Drugs


3/3/2009 7:17:16 AM

NEW YORK & ROCHESTER, N.Y.--(BUSINESS WIRE)--Pfizer Inc and Bausch & Lomb announced today a co-promotion agreement involving both companies’ prescription ophthalmic pharmaceuticals in the United States. The agreement will allow both companies to greatly increase the level of eye care industry support for these important medications that treat serious ophthalmic conditions.

The five-year agreement includes Pfizer’s Xalatan® (latanoprost ophthalmic solution) and Bausch & Lomb’s Alrex® (loteprednol etabonate ophthalmic suspension 0.2%), Lotemax® (loteprednol etabonate ophthalmic suspension 0.5%) and Zylet® (loteprednol etabonate 0.5% and tobramycin 0.3% ophthalmic suspension). The co-promotion agreement also will apply to Bausch & Lomb’s investigational anti-infective eye drop, besifloxacin ophthalmic suspension, 0.6%, which is currently under review by the U.S. Food and Drug Administration (FDA).

Under the terms of the agreement, both the Pfizer and Bausch & Lomb sales forces will promote Xalatan, Alrex, Lotemax, Zylet and besifloxacin (subject to FDA approval).

“Ophthalmic disorders cause significant disability in the United States. This agreement with Bausch & Lomb combines our portfolios and further demonstrates our commitment to provide prescription medications that can benefit people living with serious eye conditions,” said Olivier Brandicourt, president and general manager, Pfizer's Specialty Care business unit.

Separate from this co-promotion agreement with Bausch & Lomb, Pfizer will continue to maintain three mid-stage ophthalmic development programs in its own pipeline.

“Working in collaboration, our U.S. sales organizations will now represent one of the broadest product offerings in the U.S. ophthalmic market,” said Flemming Ornskov, M.D., MPH, corporate vice president and global president, Pharmaceuticals, Bausch & Lomb. “We’ll be able to reach considerably more eye care practitioners, and in turn, better attend to the needs of millions of patients every year.”

In December 2008, the FDA’s Dermatologic and Ophthalmic Drugs Advisory Committee voted unanimously to recommend approval of besifloxacin for the treatment of bacterial conjunctivitis. Bausch & Lomb anticipates a decision from the FDA in 2009.

Financial terms of the agreement were not disclosed.

About Pfizer Ophthalmics

Pfizer Ophthalmics, part of Pfizer’s Specialty Care business unit, is committed to preserving sight and eliminating preventable blindness and expanding its portfolio through licensing and partnerships. Pfizer Ophthalmics discovers, develops and provides leading treatments in ophthalmology to support patients who are at risk of blindness or suffering from vision impairment, and to serve the health care professionals who treat them. The Xalabrand franchise is a leading contributor to Pfizer’s sales worldwide.

About Pfizer Inc

Pfizer Inc, founded in 1849, is dedicated to better health and greater access to health care for people and their valued animals. Every day, approximately 81,900 colleagues in more than 150 countries work to discover, develop, manufacture and deliver quality, safe and effective prescription medicines to patients.

About Bausch & Lomb

Bausch & Lomb is the eye health company dedicated to perfecting vision and enhancing life for people around the world. Its core businesses include contact lenses and lens care products, ophthalmic surgical devices and instruments, and ophthalmic pharmaceuticals. Bausch & Lomb is one of the best-known and most respected healthcare brands in the world. Founded in 1853, the company is headquartered in Rochester, N.Y., and employs more than 10,000 people worldwide. Its products are available in more than 100 countries. More information is available at www.bausch.com.

Contact:

Media: Pfizer Jack Cox, 212-733-5017 OR Bausch & Lomb Mike McDougall, 585-338-5469 OR Investors: Pfizer Jennifer Davis, 212-733-0717


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